The home the Bensons purchased 13 years ago for $115,000 is now appraised at $385,000. What has
Question:
The home the Bensons purchased 13 years ago for $115,000 is now appraised at $385,000. What has been the annual rate of appreciation of the value of their home during the 13-year period?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Given PV 115000 FV 385000 n 13 The compoun...View the full answer
Answered By
Mercy Kangai
I provide creative and detailed administrative, web search, academic writing, data entry, Personal assistant, Content writing, Translation, Academic writing, editing and proofreading services. I excel at working under tight deadlines with strict expectations. I possess the self-discipline and time management skills necessary to have served as an academic writer for the past seven years. I can bring value to your business and help solve your administrative assistant issues. I have extensive experience in marketing and small business management.
4.80+
27+ Reviews
85+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
The home the Bensons purchased 13 years ago for $85,000 is now appraised at $215,000. What has been the annual rate of appreciation of the value of their home during the 13-year period?
-
Mr. and Mrs. Markovich note that the home they purchased 20 years ago for $70,000 is now appraised at $340,000. What was the equivalent annual rate of appreciation in the value of their home during...
-
Reddy owns common stock with a market value of $30,000. The stock pays a cash dividend of $1,200 per year (a 4% annual yield). Reddy is considering selling the stock, which she purchased 13 years ago...
-
Owner Shan Lo is considering franchising her Happy Wok restaurant concept. She believes people will pay $5 for a large bowl of noodles. Variable costs are $1.50 a bowl. Lo estimates monthly fixed...
-
A steam turbine has the inlet conditions of 5 MPa, 500oC and an exit pressure of 12 kPa. Assuming the atmospheric conditions to be 100 kPa and 25oC, plot how the exegetic efficiency of the turbine...
-
The graph below shows the hours studied and the test grades on a biology test for 7 students. The red line on the graph can be used to approximate the test grade the average student receives for the...
-
A person is required to toss 8 unbiased coins and note down the outcome of each. The random variable represents the number of heads. Determine whether the experiment is a binomial experiment. If it...
-
The circuit in Figure consists of switch S, a 12.0 V ideal battery, a 20.0 M? resistor, and an air filled capacitor. The capacitor has parallel circular plates of radius 5.00 cm, separated by 3.00...
-
examine theoretical constructs such as thinking, learning, and memory and how they occur. examine a related theoretical construct - consciousness. The understanding of consciousness (what it is and...
-
The National Center for Health Statistics reported that of every 883 deaths in recent years, 24 resulted from an automobile accident, 182 from cancer and 333 from heart disease. Using the relative...
-
Jeff purchased Hudson's Bay Company shares on the Toronto Stock Exchange for $27.10. Twelve months later the shares were trading at $23.01. The shares paid dividends totalling $0.20. What was Jeff's...
-
Use the Rule of 72 to estimate how long it will take for an investment to double in value if it earns 4.65% compounded annually. Then; solve for the exact doubling time using the algebraic approach...
-
A survey of movie ticket purchases made last Sunday afternoon showed the following: Is there a relationship between the type of movie ticket purchased and gender? Use the 0.01 significance level....
-
An exotic option allows the holder, at time T to receive (with no further pay- ment) either a vanilla call or a vanilla put, both of which have the same expiry T>T and strike price Q. i. Show that...
-
Citibank holds $40 million in foreign exchange assets and $37 million in foreign exchange liabilities. Citibank also conducted foreign currency trading activity in which it bought $5 million in...
-
Solve the following integral and show your work. d.) gu)=sin(3x) xg(x)dx
-
Colorado Exchange Company completed the following long-term investment transactions during 20X6: i (Click the icon to view the transactions.) At year-end the fair value of the Portage shares is...
-
1. Given Angies budget and profit goals, suggest which metrics Angie should use to assess the success of her new venture. Prices and costs are per tray, so use trays as the basic unit when...
-
On May 10, Jack Corporation issues 2,000 shares of $10 par value common stock for cash at $18 per share. Journalize the issuance of the stock.
-
H Corporation has a bond outstanding. It has a coupon rate of 8 percent and a $1000 par value. The bond has 6 years left to maturity but could be called after three years for $1000 plus a call...
-
Is there sufficient evidence to infer that the proportion of White Americans has decreased since the 2010 census (RACE: 1 = White)?
-
Has the proportion of Americans who were never married changed since the census? Conduct a test to answer the question (MARITAL: 5 = Never married).
-
In 2010, the United States was just recovering from the housing debacle. The percentage of home ownership was 65.8%. Is there enough evidence to infer that the proportion of home ownership has...
-
Why thin film on a glass surface can remove completely reflections at certain light wavelength? Magnesium fluoride (n = 1.38) is used as coating on nonreflecting glass. How thin coating is enough to...
-
How much work ( in joules) is done in lifting a 45.57 newton box from the floor to a table that is 0.73 meters above the floor? Round your final answer to two decimal places. A ball is thrown...
-
A 2,274.88 kilogram truck runs into the rear of a 1,067.75 kilogram stationary car. The truck and car are locked together after the collision and move with speed 8.93 meters per second. What was the...
Study smarter with the SolutionInn App